If income were distributed equally our economic _________ would suffer.
Fill in the blank(s) with the appropriate word(s).
efficiency or incentives
Economics
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What is the Law of One Price?
Economics
A farmer has 500 acres on which he has previously grown corn. His yield per acre is 100 bushels of corn. If his production flexibility contract payment is $21,250, then what is the corn payment rate?
A) $0.45 B) $0.67 C) $0.50 D) $0.10 E) There is not enough information to answer the question.
Economics
What are productive resources? Give examples of each.
What will be an ideal response?
Economics
Full employment is estimated to occur at an unemployment rate
A. Between 10 and 12 percent. B. Equal to 0 percent. C. Between 1 and 2 percent. D. Between 4 and 6 percent.
Economics